KEC International extends Wednesday's steep slide

KEC International lost 2.15% to Rs 47.70 at 10:58 IST on BSE, with the stock extending Wednesday's 8.01% slide triggered by the company reporting net loss in Q4 March 2013.

Meanwhile, the S&P BSE Sensex was down 13.70 points or 0.07% at 19,976.48.

On BSE, 35,000 shares were traded in the counter as against average daily volume of 69,695 shares in the past one quarter.

The stock hit a high of Rs 48.95 and a low of Rs 47.45 so far during the day. The stock had hit a 52-week low of Rs 47.30 on 1 March 2013. The stock had hit a 52-week high of Rs 80.70 on 29 October 2012.

The stock had underperformed the market over the past one month till 8 May 2013, sliding 10.96% compared with the Sensex's 8.42% surge. The scrip had also underperformed the market in past one quarter, declining 11.68% as against Sensex's 2.59% rise.

The small-cap company has equity capital of Rs 51.42 crore. Face value per share is Rs 2.

Shares of KEC International had declined 10% in two trading sessions from a recent high of Rs 53 on 7 May 2013, after the company during trading hours on Wednesday, 8 May 2013, reported net loss in Q4 March 2013. The stock had slumped 8.01% to settle at Rs 48.75 on Wednesday, 8 May 2013.

KEC International reported consolidated net loss of Rs 13.93 crore in Q4 March 2013, as against net profit of Rs 74.42 crore in Q4 March 2012. Net sales rose 4% to Rs 2104.67 crore in Q4 March 2013 over Q4 March 2012.

KEC International's consolidated net profit declined 68.9% to Rs 65.04 crore on 20.2% growth in net sales to Rs 6854.19 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

KEC International said its order book is robust and stands at Rs 9470 crore.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission, power systems, cables, railways, telecom and water. The company has powered infrastructure development in 48 countries across South Asia, Middle East, Africa, Central Asia and Americas. It is the flagship company of the RPG Group.

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